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On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling Engie to accelerate the energy transition.. Thank you very much, Judith. You can still enjoy your subscription until the end of your current billing period. We have this 28 billion RAB, or regulated asset base, in France, which gives us this good visibility and predictability, which is a very nice complement to the renewable. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. I think, as you pointed out, theres been a little bit of a race to gigawatts. We will now take the next question from Meike Becker with Bernstein. So really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us. Simply log into Settings & Account and select "Cancel" on the right-hand side. COI was adversely impacted by roughly 300 million due to foreign exchange and by an aggregate negative scope effect of 75 million. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. You have, of course, in mind, that we have committed to fund our waste provision until 2025. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. We invested 7.7 billion of CapEx in total. From 2013 to 2016, she also served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the Drilling business, while based in London. and other data for a number of reasons, such as keeping FT Sites reliable and secure, And weve made some moves last year, and we will continue to do that. https://lnkd.in/ea25krWt We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. And Judith, you want to comment, please, on the impairment? You can still enjoy your subscription until the end of your current billing period. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. Very yes, good question. European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French group's ambitious renewables and energy transition plans. MacGregor, an engineer . But that brings me to my question actually. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. (Tech. Operationally in 2020, the group continuously evolved processes to tackle COVID, and we maintained high health and safety standards for both occupational and process safety. On your two questions, 1 was on the tax rate. Let me now move to a detailed view per business line. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. We continue to develop these activities, including through an acquisition of the worlds largest district cooling scheme in Dubai, allowing us to increase our DHC net installed capacity by 9%. ENGIE thanks you for your participation. CEO Affiliation Engie Country France 2020 Rank 13 In her first year as CEO of the giant French power company, MacGregor, an oil and gas industry veteran, focused on simplifying the $63.5. CEO - Engie. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. You can update your choices at any time in your settings. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. In the summer of 2019, she chose to pursue her career in the energy industry by joining the Executive Committee of the TechnipFMC Group to lead its onshore and offshore engineering and construction activities, Technip Energies. Sign up for more in-depth articles and insights. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. Standard Digital includes access to a wealth of global news, analysis and expert opinion. So and then maybe Ill add that there is also, I think, a lot of things we can do and we are doing, and we will continue to do and even increase around industrialization, procurement, supply chain, of course, digital. Welcome to the sector, indeed. Recharge is part of DN Media Group. And to this end, Im very pleased to announce our next event on the 18th of May, where Judith and I will cover both our Q1 results and provide you with a medium-term strategic plan and guidance. offers FT membership to read for free. Elle travaille pendant 23 ans chez Schlumberger. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. Pour viter se gchis financier avec l'argent des franais We have a strong position in Brazil, in Peru, in Chile. Let me give you the 2020 COI highlights. And I was interested to get your philosophy about minorities. But the idea is that for the big production projects, we will give the Thermal people and the Thermal team, the responsibility to run those hydrogen production plans and projects because some of the skills are actually quite similar. According to the IEAs latest sustainable development scenario, in Europe alone, energy from biomethane and hydrogen could potentially grow three times from 2019 levels to over 300 terawatt hours in 2030. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? Notre lectricit est dj propre And then the last thing I would want to mention, too, is on the positive side of this decision, is this will help us reallocate some earmarked, lets say, CapEx into, again, our growth opportunities in Renewables and in Networks. And while were not going to grow it at the same rate as Renewables and Networks, we will be opportunistic in managing this fleet. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. So I thought, on this occasion, it would be great if you could take a few minutes just to share with us sort of your perspective on why the last few years have been so difficult for ENGIE, why the 2016 asset rotation plan didnt really deliver in the end and why the current asset rotation plan may be more successful. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. Holidays ? How old is Ms MacGregor? Is it something that could be you realize value of and take advantage of low rates? university Areas of expertise ; Biography [ edit] Biography. The biggest, of course, remains Renewables. personalising content and ads, providing social media features and to https://waves-energy.co/maps/. Some others, there is still a good portion of assumption that there might be a stranded asset. Within this guidance, we have included our current estimate of the potential impact. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. But in short, we have big ambition, but we will be disciplined. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. And then, of course, right after that, you have hydrogen. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." So if we have opportunities, which, from an energy transition makes sense, because, for example, they would replace coal or even worst, fuel assets and bring a solution of flexibility to the system is something that we might consider. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. Its were rounding numbers here, as you can see, because like I said, this is our target. What are you looking at? Euro erzielen und am Vorhaben festhalten, jhrlich 65 . Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. Hopefully you can also take this into account? On the 100 million, quite frankly, there isnt any unusuals that you should assume. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. We support credit card, debit card and PayPal payments. Great post Catherine Fiamma MacGregor! Yes. Sure. So the what is happening here in France on biomethane is actually quite real, and so we are now looking at potentially having sufficient volume to fully displace what will be needed in gas at the 2050 horizon. I will now hand you back to Catherine for our 2021 priorities. Name: Katherine MacGregor Birth Year: 1925 Birth date: January 12, 1925 Birth State: California Birth City: Glendale Birth Country: United States Gender: Female Best Known For: Katherine. And so were excited about this transaction. Theyre going into similar areas with Networks is an important aspect. On quick one on numbers, on guidance. Elle y dirige des activits de forage au Congo, en Mer du Nord[3], aux tats-Unis, en Malaisie, au Royaume-Uni et en France[4]. Now turning to Networks. Aged 48 and an engineering graduate of cole Centrale Paris, Catherine MacGregor started her career at Schlumberger in 1995, where she spent 23 years in positions of international responsibility, notably as group HR director. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. Ms MacGregor is 48, she's been the Chief Exec. This was due to higher contributions from entities with minorities, which fully contributed at EBITDA and COI levels but only contributed at share at net recurring income group share level.